Tag Archives: TVVID

China races to install hospital beds as COVID surge sparks concern abroad

  • Authorities rush to add hospital beds, build fever clinics
  • U.S. raises concerns over possibility of COVID mutations
  • Beijing reports five more deaths on Tuesday
  • Security tight at crematoriums amid doubts over death toll

BEIJING/WASHINGTON, Dec 20 (Reuters) – Cities across China scrambled to install hospital beds and build fever screening clinics on Tuesday as the United States said Beijing’s surprise decision to let the virus run free was a concern for the world.

China this month began dismantling its stringent “zero-COVID” regime of mass lockdowns after protests against curbs that had largely kept the virus at bay for three years but at significant costs to society and the world’s second-largest economy.

Now, as the virus sweeps through a country of 1.4 billion people who lack natural immunity having been shielded for so long, there is growing concern about possible deaths, virus mutations and the impact on the economy and trade.

“We know that any time the virus is spreading, that it is in the wild, that it has the potential to mutate and to pose a threat to people everywhere,” U.S. State Department spokesperson Ned Price said on Monday, adding that the virus outbreak in China was also a concern for global growth.

Beijing reported five COVID-related deaths on Tuesday, following two on Monday, which were the first fatalities reported in weeks. In total, China has reported just 5,242 COVID deaths since the pandemic emerged in the central city of Wuhan in late 2019, a very low toll by global standards.

But there are rising doubts that the statistics are capturing the full impact of a disease ripping through cities after China dropped curbs including most mandatory testing on Dec. 7.

Since then, some hospitals have become inundated, pharmacies emptied of medicines, while many people have gone into self-imposed lockdowns, straining delivery services.

“It’s a bit of a burden to suddenly reopen when the supply of medications was not sufficiently prepared,” said Zhang, a 31-year-old delivery worker in Beijing who declined to give his full name. “But I support the reopening.”

Some health experts estimate 60% of people in China – equivalent to 10% of the world’s population – could be infected over coming months, and that more than 2 million could die.

In the capital, Beijing, security guards patrolled the entrance of a designated COVID-19 crematorium where Reuters journalists on Saturday saw a long line of hearses and workers in hazmat suits carrying the dead inside. Reuters could not establish if the deaths were due to COVID.

‘GETTING SICK’

In Beijing, which has emerged as the main infection hot spot, commuters, many coughing into their masks, were back on the trains to work and streets were coming back to life after being largely deserted last week.

Streets in Shanghai, where COVID transmission rates are catching up with Beijing’s, were emptier, and subway trains were only half-full.

“People are staying away because they are sick or they are scared of getting sick, but mostly now, I think it’s because they are actually sick,” said Yang, a trainer at a nearly empty Shanghai gym.

Top health officials have softened their tone on the threat posed by the disease in recent weeks, a U-turn from previous messaging that the virus had to be eradicated to save lives even as the rest of the world opened up.

They have also been playing down the possibility that the now predominant Omicron strain could become more virulent.

“The probability of a sudden large mutation … is very low,” Zhang Wenhong, a prominent infectious disease specialist, told a forum on Sunday in comments reported by state media.

Nevertheless, there are mounting signs the virus is buffeting China’s fragile health system.

Cities are ramping up efforts to expand intensive care units and other facilities for severe COVID cases, the state-run Global Times reported on Monday.

Authorities have also been racing to build so-called fever clinics, facilities where medical staff check patients’ symptoms and administer medication. Often attached to hospitals, the clinics are common in mainland China and are designed to prevent the wider spread of contagious disease in hospitals.

In the past week, major cities including Beijing, Shanghai, Chengdu, and Wenzhou announced they had added hundreds of fever clinics, some in converted sports facilities.

The virus is also hammering China’s economy, expected to grow 3% this year, its worst performance in nearly half a century. Workers and truck drivers falling ill are slowing down output and disrupting logistics, economists say.

A World Economics survey showed on Monday China’s business confidence fell in December to its lowest since January 2013.

Weaker industrial activity in the world’s top oil importer has capped gains for crude prices and driven copper lower.

China kept benchmark lending interest rates unchanged for the fourth consecutive month on Tuesday.

Reporting by Bernard Orr and Xiaoyu Yin in Beijing, David Stanway in Shanghai and Humeyra Pamuk in Washington; Writing by John Geddie and Marius Zaharia; Editing by Robert Birsel

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

China reports first COVID deaths in weeks as doubts gather over official count

  • Beijing reports two deaths, first since Dec. 3
  • Comes after Beijing relaxed anti-virus controls
  • Citizens, analysts question official figures
  • Virus surge weighs on world’s second economy

BEIJING, Dec 19 (Reuters) – China reported its first COVID-related deaths in weeks on Monday amid rising doubts over whether the official count was capturing the full toll of a disease that is ripping through cities after the government relaxed strict anti-virus controls.

Monday’s two deaths were the first to be reported by the National Health Commission (NHC) since Dec. 3, days before Beijing announced that it was lifting curbs which had largely kept the virus in check for three years but triggered widespread protests last month.

Though on Saturday, Reuters journalists witnessed hearses lined up outside a designated COVID-19 crematorium in Beijing and workers in hazmat suits carrying the dead inside the facility. Reuters could not immediately establish if the deaths were due to COVID.

A hashtag on the two reported COVID deaths quickly became the top trending topic on China’s Twitter-like Weibo platform on Monday morning.

“What is the point of incomplete statistics?” asked one user. “Isn’t this cheating the public?,” wrote another.

The NHC did not immediately respond to questions from Reuters on the accuracy of its data.

Officially China has suffered just 5,237 COVID-related deaths during the pandemic, including the latest two fatalities, a tiny fraction of its 1.4 billion population and very low by global standards.

But health experts have said China may pay a price for taking such stringent measures to shield a population that now lacks natural immunity to COVID-19 and has low vaccination rates among the elderly.

Some fear China’s COVID death toll could rise above 1.5 million in coming months.

Respected Chinese news outlet Caixin on Friday reported that two state media journalists had died after contracting COVID, and then on Saturday that a 23-year-old medical student had also died. It was not immediately clear which, if any, of these deaths were included in official death tolls.

“The (official) number is clearly an undercount of COVID deaths,” said Yanzhong Huang, a global health specialist at the Council on Foreign Relations (CFR), a U.S. think tank.

That “may reflect the lack of state ability to effectively track and monitor the disease situation on the ground after the collapse of the mass PCR testing regime, but it may also be driven by efforts to avoid mass panic over the surge of COVID deaths,” he said.

The NHC reported 1,995 symptomatic infections for Dec. 18, compared with 2,097 a day earlier.

But infection rates have also become an unreliable guide as far less mandatory PCR testing is being conducted following the recent easing. The NHC stopped reporting asymptomatic cases last week citing the testing drop.

China’s stocks fell and the yuan eased against the dollar on Monday, as investors grew concerned that surging COVID-19 cases would further weigh on the world’s second largest economy despite pledges of government support.

The virus was also sweeping through trading floors in Beijing and spreading fast in the financial hub of Shanghai, with illness and absence thinning already light trade and forcing regulators to cancel a weekly meeting vetting public share sales.

Japanese chipmaker Renesas Electronics Corp (6723.T) said on Monday it had suspended work at its Beijing plant due to COVID-19 infections.

SPREADING FAST

China’s chief epidemiologist Wu Zunyou on Saturday said the country was in the throes of the first of three COVID waves expected this winter, which was more in line with what people said they are experiencing on the ground.

“I’d say sixty to seventy percent of my colleagues…are infected right now,” Liu, a 37-year-old university canteen worker in Beijing, told Reuters, requesting to be identified by his surname.

While top officials have been downplaying the threat posed by the new Omicron strain of the virus in recent weeks, authorities remain concerned about the elderly, who have been reluctant to get vaccinated.

Officially, China’s vaccination rate is above 90%, but the rate for adults who have received booster doses of the vaccine drops to 57.9%, and to 42.3% for people aged 80 and above, according to government data.

In the Shijingshan district of Beijing, medical workers have been going door-to-door offering to vaccinate elderly residents in their homes, China’s Xinhua news agency reported on Sunday.

But it is not just the elderly that are wary of vaccines.

“I don’t trust it,” Candice, a 28-year-old headhunter in Shenzhen told Reuters, citing stories from friends about health impacts, as well as similar health warnings on social media. Candice spoke on condition that only her first name be used.

Overseas-developed vaccines are unavailable in mainland China to the general public, which has relied on inactivated shots by local manufacturers for its vaccine rollout.

While China’s medical community in general doesn’t doubt the safety of China’s vaccines, some say questions remain over their efficacy compared to foreign-made mRNA counterparts.

Reporting by Liz Lee, Martin Quin Pollard, Eduardo Baptista, Jing Wang and Ryan Woo in Beijing and David Kirton in Shenzhen; Writing by John Geddie; Editing by Simon Cameron-Moore

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

China reportedly delays key economic meeting amid signs of surging infections

  • Beijing drops key tools of ‘zero-COVID’ regime
  • Changes follow historic protests last month
  • Opening up sparks fears of infection spread

SHANGHAI/HONG KONG, Dec 13 (Reuters) – Chinese leaders have reportedly delayed a key economic policy meeting amid growing signs that COVID-19 infections are surging nearly a week after Beijing jettisoned some of the world’s toughest restrictions.

President Xi Jinping and other Politburo members and senior government figures had been expected to attend the closed-door Central Economic Work Conference, most likely this week, to chart a policy course for the embattled Chinese economy in 2023.

A Bloomberg News report on Tuesday night, citing people familiar with the matter, said the meeting had been delayed and there was no timetable for rescheduling.

The delay comes as authorities continue to overturn the previously resolute “zero-COVID” policy championed by Xi.

Long queues are appearing outside fever clinics in a worrying sign that a wave of infections is building, even though official tallies of new cases have dropped in recent weeks as authorities reduce testing.

And companies in China, from e-commerce giant JD.com to cosmetics brand Sephora, are rushing to minimise the impact of surging infections – doling out test kits, encouraging more work from home and, in some cases, procuring truckloads of medicine.

The signs come as China attempts to swiftly align with a world that has largely reopened, following unprecedented protests last month in China three years into the pandemic.

The protests were the strongest show of public defiance during Xi’s decade-old presidency and come amid growth figures for China’s $17 trillion economy that were some of the worst in 50 years.

Despite rising infections, people in China cheered the withdrawal on Tuesday of a state-mandated app used to track whether they had travelled to COVID-stricken areas.

As authorities deactivated the “itinerary code” app at midnight on Monday, China’s four telecoms firms said they would delete users’ data associated with the app.

“Goodbye itinerary code, I hope to never see you again,” said a post on social media platform Weibo, where people cheered the demise of an app that critics feared could be used for mass surveillance.

“The hand that stretched out to exert power during the epidemic should now be pulled back,” wrote another user.

And in a further sign of policy easing, Chinese healthcare company 111.inc has started selling Pfizer’s Paxlovid for COVID-19 treatment in China via its app – medicine previously only available in some hospitals.

It sold out just over half an hour after the listing was reported by local media, according to the platform’s customer service.

For all the relief over last week’s decision to begin overturning the government’s zero-COVID policy, there are fears that China may now pay a price.

Infections are expected to rise further during the Chinese New Year holiday next month, when people travel across the country to be with their families, – a risk for a 1.4 billion population that lacks “herd immunity” and has relatively low vaccination rates among the elderly, according to some analysts.

The moves made last week to unwind the COVID curbs included dropping mandatory testing prior to many public activities and reining in quarantine.

HONG KONG RELAXES

Beijing’s envoy to the United States on Monday said he believes China’s COVID-19 measures will be further relaxed in the near future and international travel to the country will also become easier.

China has all but shut its borders to international travel since the pandemic first erupted in the central Chinese city of Wuhan in later 2019. International flights are still at a fraction of pre-pandemic levels and arrivals face eight days in quarantine.

Financial hub Hong Kong, which already has less stringent border controls than mainland China, on Tuesday said it would drop a requirement for incoming travellers to avoid bars and restaurants in the three days after arrival.

Hong Kong will also scrap its mobility-tracking app governing access to restaurants and venues such as gyms, clubs and salons, Chief Executive John Lee said.

While the lifting of controls is seen as brightening the prospects for global growth longer term, analysts say Chinese businesses will struggle in the weeks ahead, as a wave of infections creates staff shortages and makes consumers wary.

Analysts say the decline in reported new cases could reflect the dropping of testing requirements rather than the actual situation on the ground.

“The rapid surge of infections in big cities might be only the beginning of a massive wave of COVID infections,” said Ting Lu, Chief China Economist at Nomura.

“We reckon that the incoming migration around the Chinese New Year holiday in late January could bring about an unprecedented spread of COVID.”

Experts say China’s fragile healthcare system could be quickly overwhelmed if those fears are realised.

In Beijing, empty seats on commuter trains and deserted restaurants highlight some people’s caution.

“Maybe other people are afraid or are worried about kids’ and grandparents’ health. It’s a personal choice,” Gao Lin, a 33-year-old financier, told Reuters.

China stocks (.CSI300) edged lower on Tuesday as a recent rebound triggered by reopening hopes gave way to concerns about spreading infections. The yuan currency was little changed, but it is already set for its worst year since 1994, when China unified the official and market exchange rates.

Reporting by Bernard Orr in Beijing, Brenda Goh and Shen Yiming in Shanghai and Farah Master in Hong Kong; Writing by John Geddie and Greg Torode; Editing by Simon Cameron-Moore and Nick Macfie

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Queues form at fever clinics as China wrestles with COVID surge

  • Queues outside fever clinics in Beijing, Wuhan
  • Top virus expert says peak may come in a month
  • Stocks, yuan sag on concern over rising cases
  • China moves to free up domestic travel

BEIJING/HONG KONG, Dec 12 (Reuters) – People queued outside fever clinics at China’s hospitals for COVID-19 checks on Monday, a new sign of the rapid spread of symptoms after authorities began dismantling stringent curbs on movement.

Three years into the pandemic, China is moving to align with a world that has largely opened up to live with COVID, making a major policy change last Wednesday after unprecedented protests.

It has dropped testing prior to many activities, reined in quarantine and was preparing to de-activate a mobile app used to track the travel histories of a population of 1.4 billion people.

Authorities continue to urge mask-wearing and vaccinations, particularly for the elderly.

But with little exposure to a disease kept largely in check until now, China is ill-prepared, analysts say, for a wave in infections that could heap pressure on its fragile health system and drive businesses to a halt.

Lily Li, who works at a toy company in the southern manufacturing hub of Guangzhou, said several employees, as well as staff at suppliers and distributors, had been infected and were at home isolating.

“Basically everybody is now simultaneously rushing to buy rapid antigen test kits but has also somewhat given up on the hope that COVID can be contained,” she said.

“We have accepted that we will have to get COVID at some point anyway.”

In Beijing, about 80 people huddled in the cold outside a fever clinic in the upmarket district of Chaoyang as ambulances zipped past.

A Beijing government official said on Monday night that visits to such clinics has risen to 22,000 per day, up 16 times on the previous week.

Reuters witnessed similar queues outside clinics in the central city of Wuhan, where COVID-19 first emerged three years ago. read more

In recent weeks, local cases have been trending lower since a late November peak of 40,052, official figures show, however. Sunday’s tally of 8,626 was down from 10,597 new cases the previous day.

But the figures reflect the dropping of testing requirements, say analysts, while health experts have warned of an imminent surge.

In comments on Monday in the state-backed newspaper Shanghai Securities News, Zhang Wenhong, head of a team of experts in the commercial hub, said the current outbreak could peak in a month, though an end to the pandemic might be three to six months away.

In a WeChat post, Zhang’s team said that despite the surge, the current Omicron strain did not cause long-term damage and people should be optimistic.

“We are about to walk out of the tunnel; air, sunshine, free travel, all waiting for us,” the post said.

STOCKS, YUAN SAG

China’s stock markets broadly retreated and the yuan eased from a near three-month high hit in the previous session, as investors fretted that rising infections might disrupt consumption and manufacturing.

But for the same reason, demand surged for stocks in Chinese drugmakers and providers of masks, antigen tests and funeral services.

“Please protect yourself,” the management of a condominium in the capital’s Dongcheng district warned residents on Sunday, saying almost all its staff had been infected.

“Try as much as you can not to go out …,” it said on messaging app WeChat. “Be the first person to take responsibility for your own health, let’s face this together.”

Such messages appear to have hit home for some who say they are reluctant to visit crowded places or dine at restaurants.

That is why few analysts expect a quick, broad rebound in spending in the world’s second largest economy, as the glee that greeted the abrupt relaxations was tempered with uncertainty for consumers and businesses.

Yet China is pushing to free up nationwide travel, even if foreign trips may be a while off.

A state-mandated mobile app identifying travellers to COVID-stricken areas will shut down at midnight on Monday, according to a notice on its official WeChat account.

The number of domestic flights available across China exceeded 7,400, nearly double from a week ago, flight tracker app VariFlight showed.

New home sales in 16 cities picked up last week, in a move partly attributed to the easing of curbs, as people venture out to view homes, the China Index Academy said.

Reporting by Eduardo Baptista, Ryan Woo, Bernard Orr, Sophie Yu in Beijing, Brenda Goh in Shanghai, Martin Quin Pollard in Wuhan and Josh Ye and Greg Torode in Hong Kong; Writing by John Geddie; Editing by Clarence Fernandez and Nick Macfie

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Kim Kardashian to launch private equity firm with former Carlyle partner

Register now for FREE unlimited access to Reuters.com

Sept 7 (Reuters) – Reality television star and entrepreneur Kim Kardashian and a former partner at Carlyle Group Inc (CG.O) Jay Sammons are launching a new private equity firm focused on investing in consumer and media businesses, according to a joint statement.

The new firm, named SKKY Partners, will make investments in sectors including consumer products, hospitality, luxury, digital commerce and media, and plans to make both control and minority investments.

Kardashian and Sammons will serve as co-founders and co-managing partners, with Sammons leading day-to-day operations of the firm.

Register now for FREE unlimited access to Reuters.com

Television personality Kim Kardashian attends a panel for the documentary “Kim Kardashian West: The Justice Project” during the Winter TCA (Television Critics Association) Press Tour in Pasadena, California, U.S., January 18, 2020. REUTERS/Mario Anzuoni//File Photo

Kardashian has gained success in her recent business ventures such as shapewear label Skims and makeup brand KKW due to their popularity with young shoppers and the TV personality’s huge social media following. Skims was valued at $3.2 billion in January.

Kardashian’s launch of a private equity firm also underscores a broader shift among renowned Hollywood celebrities including Leonardo DiCaprio, Ashton Kutcher and Gwyneth Paltrow who are turning prolific investors in the private equity and venture capital space.

Tennis star Serena Williams raised $111 million for her new early-stage venture capital firm Serena Ventures in March. The firm has invested in more than 50 companies with a total market value of $14 billion, including online learning platform MasterClass and tech company Propel.

Earlier on Wednesday, the Wall Street Journal reported the launch of the private equity firm. (https://on.wsj.com/3BgVrdA0)

Register now for FREE unlimited access to Reuters.com

Reporting by Uday Sampath and Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel and Krishna Chandra Eluri

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

YouTube blocks RT, other Russian channels from earning ad dollars

YouTube app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

Register now for FREE unlimited access to Reuters.com

Register

Feb 26 (Reuters) – YouTube on Saturday barred Russian state-owned media outlet RT and other Russian channels from receiving money for advertisements that run with their videos, similar to a move by Facebook, after the invasion of Ukraine.

Citing “extraordinary circumstances,” YouTube said that it was “pausing a number of channels’ ability to monetize on YouTube, including several Russian channels affiliated with recent sanctions” such as the European Union’s. Ad placement is largely controlled by YouTube.

The EU on Wednesday announced sanctions on individuals including Margarita Simonyan, whom it described as RT’s editor-in-chief and “a central figure” of Russian propaganda.

Register now for FREE unlimited access to Reuters.com

Register

Videos from the affected channels also will come up less often in recommendations, YouTube spokesperson Farshad Shadloo said. He added that RT and several other channels would no longer be accessible in Ukraine due to a Ukrainian government request.

Ukraine Digital Transformation Minister Mykhailo Fedorov tweeted earlier on Saturday that he contacted YouTube “to block the propagandist Russian channels — such as Russia 24, TASS, RIA Novosti.”

RT and Simonyan did not respond to requests for comment. YouTube declined to name the other channels it had restricted.

For years, lawmakers and some users have called on YouTube, which is owned by Alphabet Inc’s (GOOGL.O) Google, to take greater action against channels with ties to the Russian government out of concern that they spread misinformation and should not profit from that.

Russia received an estimated $7 million to $32 million over the two-year period ended December 2018 from ads across 26 YouTube channels it backed, digital researcher Omelas told Reuters at the time.

YouTube previously has said that it does not treat state-funded media channels that comply with its rules any differently than other channels when it comes to sharing ad revenue.

Meta Platforms Inc (FB.O), owner of Facebook, on Friday barred Russian state media from running ads or generating revenue from ads on its services anywhere in the world. read more

Register now for FREE unlimited access to Reuters.com

Register

Reporting by Paresh Dave; Editing by Leslie Adler and Cynthia Osterman

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Ukrainian reservists gear up in case of conflict with Russia

KYIV, Jan 29 (Reuters) – From Monday to Friday, Mykhaylo is a lawyer, Alexander is an IT programmer and Konstantin freelances in online advertising.

On Saturday, the three came together in an abandoned construction site on the outskirts of Kyiv to train as Ukrainian army reservists, ready to be called up in the event of any war breaking out with neighbouring Russia.

Nervous over the threat of some 120,000 Russian troops massed near the border with Ukraine, Kyiv has launched a new Territorial Defence force this year, which it wants to build up into a corps of up to 130,000 people.

Register now for FREE unlimited access to Reuters.com

Register

While they may stand little chance against the much bigger and better-equipped professional Russian army, reservists like them could be tasked with protecting civilian sites in Kyiv amid any conflict.

Saturday’s training brought together about 70 locals, some in full infantry gear with hunting rifles and with combat experience from back when Russia annexed Crimea in 2014 and then backed rebels fighting government troops in eastern Ukraine.

Others in sneakers and casual sportswear were handed mock wooden rifles.

“I am worried,” said Konstantin Sevchuk, the 43-year-old freelancer who said he had so far avoided any contact with the military after serving a year in the eastern Donbass region in 2014/15 during Ukraine’s general mobilisation.

“It doesn’t really fit into my life, I didn’t really want it. But now the situation is such that it’s needed.”

While IT programmer Alexander took part in the 2013/14 “Maidan” mass pro-democracy protests in Kyiv, he said he did not feel ready to fight when Moscow reacted to the overthrow of Ukraine’s pro-Russian president by annexing Crimea.

“Now I’m in my mid-30s and it’s time for me to join,” he said, his face covered with a blue scarf. “It’s better to join now than when it’s too late. I want to be prepared.”

Breathing heavily after getting up and dropping to the snow-covered ground numerous times with his heavy equipment, Mykhaylo, 39, was enthusiastic about going to fight.

Reservists of the Ukrainian Territorial Defence Forces take part in military exercises on the outskirts of Kyiv, Ukraine January 29, 2022. REUTERS/Valentyn Ogirenko

Read More

“My inclination towards war craft has been there long before the war. Now it makes perfect sense to do it,” he said during the showcase exercises.

While the United States has warned that a military intervention is likely and imminent, Ukrainian President Volodymyr Zelenskiy has said that too much “panic” is hurting the economy of 41 million people.

Russian President Vladimir Putin says the West has not addressed Moscow’s main security demands in the crisis over Ukraine but that he is ready to keep on talking.

The West meanwhile has threatened Russia with heavy economic sanctions should it invade Ukraine again.

While Moscow insists it does not want a war, it has also dismissed calls to withdraw its troops, saying it can deploy them as it sees fit on its own territory. It has cited the Western response as evidence that it is the target, not the instigator, of aggression.

UKRAINE

The motley crew of reservists – arriving in everything from a small Suzuki to 4×4 vehicles and even an electric Tesla – were sometimes critical of Zelenskiy and had differing views on NATO.

But they shared a feeling that Ukraine, formerly a Soviet republic, wanted to decide its own fate independently of its old overlord Moscow.

“I want a peacefully developing Ukraine,” said Konstantin. “I want it to be a flourishing peaceful country, like Poland, like the Czech Republic, like Germany, like all European countries.”

Mykhaylo said he wanted his children “to be born and live their lives in a law-abiding and democratic country. That they know what freedom is and are ready to fight for it.”

Alexander noted how years of tensions with Russia – over Crimea, the eastern region of Donbass and Ukraine’s aspirations for closer integration with the West, but also over gas supplies and the difficult history the two nations share – had changed his country.

“We’ve grown up as a nation. We understand what we want and how to get there. We’ve only made small steps, but we know that we are Ukrainians. We’re not the Soviet Union anymore.”

Register now for FREE unlimited access to Reuters.com

Register

Writing by Gabriela Baczynska; Editing by Hugh Lawson

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Gloomy Netflix forecast erases much of stock’s pandemic gains

The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration

Register now for FREE unlimited access to Reuters.com

Register

LOS ANGELES, Jan 20 (Reuters) – Netflix Inc dashed hopes for a quick rebound after forecasting weak first-quarter subscriber growth on Thursday, sending shares sinking nearly 20% and wiping away most of its remaining pandemic-fueled gains from 2020.

The world’s largest streaming service projected it would add 2.5 million customers from January through March, less than half of the 5.9 million analysts had forecast, according to Refinitiv IBES data.

Netflix tempered its growth expectations, citing the late arrival of anticipated content, such as the second season of “Bridgerton” and the Ryan Reynolds time-travel movie “The Adam Project.”

Register now for FREE unlimited access to Reuters.com

Register

Shares of Netflix plummeted nearly 20% to $408.13 in after-hours trading. Competitor Walt Disney Co (DIS.N), which has staked its future on building a strong streaming business, saw its shares sink 4%. Streaming device Roku Inc (ROKU.O) fell 5%.

Nasdaq futures dropped almost 1%, showing traders expect the tech-heavy index to open lower on Friday.

Netflix added 8.3 million customers from October to December, when it released a heavy lineup of new programming including the star-studded movies “Red Notice” and “Don’t Look Up” and a new season of “The Witcher.” Industry analysts had projected 8.4 million.

The company’s global subscriber total at the end of 2021 reached 221.8 million.

In a letter to shareholders, Netflix said it believed the ongoing COVID-19 pandemic and economic hardships in several parts of the world like Latin America may have kept subscriber growth from rebounding to levels seen before the pandemic.

COVID “created a lot of bumpiness” that made it hard to project subscriber numbers, “but all the fundamentals of the business are pretty solid,” Co-Chief Executive Ted Sarandos said in a post-earnings video interview.

The company posted adjusted earnings per share of $1.33, crushing analyst consensus estimates of 82 cents. Revenue hit $7.71 billion, in line with estimates.

Netflix last week raised prices in its biggest market, the United States and Canada, where analysts say growth is stagnating, and is now looking for growth overseas.

The company rode a roller coaster during the pandemic, with steep growth early in 2020 when people were staying home and movie theaters were closed, followed by a slowdown in 2021. Netflix picked up more than 36 million customers in 2020, and 18.2 million in 2021.

Netflix’s subscriber growth in 2022 had been expected to stabilize and return to the pace logged before the pandemic, when it added 27.9 million subscribers in 2019, analysts say. The company’s upcoming slate includes new installments of “Ozark” and “Stranger Things” and a three-part Kanye West documentary.

“The pandemic lockdowns pulled forward tons of demand and it is taking longer than expected to normalize,” said Pivotal Research analyst Jeff Wlodarczak.

Competitors including Disney and AT&T Inc’s (T.N) HBO Max, are pouring billions into creating new programming to grab a share of the streaming market.

Netflix said competition “may be affecting our marginal growth some,” but added that it was still growing in every country where new streaming options have launched.

“Even in a world of uncertainty and increasing competition, we’re optimistic about our long-term growth prospects as streaming supplants linear entertainment around the world,” Netflix said in its shareholder letter.

In their video interview, executives sought to reassure investors that Netflix’s long-term prospects were bright. Sarandos said the service had not seen a decline in customer engagement or retention and he projected the switch to streaming from traditional television would continue to open opportunities worldwide. The stock remained down nearly 20%.

“The pace of the migration may be a little hard to call from time to time when there are kind of very global events or even local conditions,” Sarandos said, “But it’s absolutely happening. There’s no question of that.”

The company is looking for new ways to attract customers including with mobile video games. Netflix said it released 10 games in 2021, was pleased with the early reception and would expand its gaming portfolio in 2022.

Register now for FREE unlimited access to Reuters.com

Register

Reporting by Lisa Richwine and Dawn Chmielewski in Los Angeles; Additional reporting by Eva Mathews and Tiyashi Datta in Bengaluru and Noel Randewich in Oakland, Calif.; Editing by Sriraj Kalluvila and Lisa Shumaker

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Elon Musk named Time’s 2021 ‘Person of the Year’

Dec 13 (Reuters) – Tesla (TSLA.O) Chief Executive Officer Elon Musk was named Time magazine’s “Person of the Year” for 2021, a year that saw his electric car company become the most valuable carmaker in the world and his rocket company soar to the edge of space with an all-civilian crew.

Musk is also the founder and CEO of SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company. Tesla’s market value soared to more than $1 trillion this year, making it more valuable than Ford Motor (F.N) and General Motors (GM.N) combined.

Tesla produces hundreds of thousand of cars every year and has managed to avert supply chain issues better than many of its rivals, while pushing many young consumers to switch to electric cars and legacy automakers to shift focus to EV vehicles.

Register now for FREE unlimited access to reuters.com

Register

“For creating solutions to an existential crisis, for embodying the possibilities and the perils of the age of tech titans, for driving society’s most daring and disruptive transformations, Elon Musk is TIME’s 2021 Person of the Year,” the magazine’s editor-in-chief, Edward Felsenthal, said.

“Even Elon Musk’s spacefaring adventures are a direct line from the very first Person of the Year, Charles Lindbergh, whom the editors selected in 1927 to commemorate his historic first solo transatlantic airplane flight over the Atlantic.”

Tesla CEO Elon Musk gestures as he visits the construction site of Tesla’s Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021. Patrick Pleul/Pool via Reuters

From hosting Saturday Night Live to dropping tweets on cryptocurrencies and meme stocks that have triggered massive movements in their value, Musk has dominated the headlines and amassed over 66 million followers on Twitter.

Some of his tweets have also attracted regulatory scrutiny in the past.

According to the magazine, “The Person of the Year” signifies somebody “who affected the news or our lives the most, for better, or worse.”

Time magazine named the teenage pop singer Olivia Rodrigo as its “Entertainer of the Year”, American gymnast Simone Biles “Athlete of the Year” and vaccine scientists were named “Heroes of the Year”.

Last year, U.S. President-elect Joe Biden and Vice President-elect Kamala Harris were jointly given the “Person of the Year” title. Time began this tradition in 1927. Facebook (FB.O)CEO Mark Zuckerberg and Amazon (AMZN.O)founder Jeff Bezos have also received the title in the past.

Register now for FREE unlimited access to reuters.com

Register

Reporting by Nivedita Balu and Chavi Mehta in Bengaluru; Editing by Saumyadeb Chakrabarty

Our Standards: The Thomson Reuters Trust Principles.

Read original article here

Taliban release media guidelines, ban shows with female actors

KABUL, Nov 23 (Reuters) – The Taliban administration has released a set of restrictions on Afghan media, including banning television dramas that included female actors and ordering women news presenters to wear “Islamic hijab”.

Afghanistan’s Ministry of Vice and Virtue set out nine rules this week, a Taliban administration spokesman said on Tuesday, largely centred on banning any media that contravened “Islamic or Afghan values”.

Some edicts were targeted specifically at women, a move likely to raise concerns among the international community.

Register now for FREE unlimited access to reuters.com

Register

“Those dramas…or programmes in which women have acted, should not be aired,” the rules said, adding that female journalists on air should wear “Islamic hijab” without defining what that meant.

Hadia (Centre), 10, a 4th grade primary school student, leaves school after a class in Kabul, Afghanistan, October 25, 2021. REUTERS/Zohra Bensemra/File Photo

Though most women in Afghanistan wear headscarves in public, the Taliban’s statements that women should wear “Islamic hijab” have often in the past worried women’s rights activists who say the term is vague and could be interpreted conservatively.

The rules drew criticism from international rights watchdog Human Rights Watch (HRW), which said media freedom was deteriorating in the country.

“The disappearance of any space for dissent and worsening restrictions for women in the media and arts is devastating,” said Patricia Gossman, associate Asia director at HRW, in a statement.

Though Taliban officials have sought to sought to publicly assure women and the international community that women’s rights will be protected since they took over Afghanistan on Aug. 15, many advocates and women have remained skeptical.

During the Taliban’s previous rule, strict curbs were placed on women’s ability to leave the house, unless accompanied by a male relative, or to receive education.

Register now for FREE unlimited access to reuters.com

Register

Reporting by Kabul bureau; additional reporting by Jibran Ahmed in Peshawar; writing by Charlotte Greenfield

Our Standards: The Thomson Reuters Trust Principles.

Read original article here